Mineral Wool Market
The mineral wool market is estimated to be valued at USD 15.22 Bn in 2024 and exhibit a CAGR of 4.9% over the forecast period 2024-2031. The mineral wool market has been witnessing significant growth over the past few years. Mineral wool is a type of insulation made from inorganic materials such as rock, slag, or glass and is produced by spinning or blowing these materials into fine fibers. It has several desirable properties including superior fire resistance, thermal insulation, durability, and acoustics. Owing to the fast-growing construction industry especially in emerging economies and stringent government regulations regarding energy efficiency in buildings, the demand for mineral wool insulation has risen substantially.
Market Dynamics:
The global mineral wool market growth is driven by robust growth of the construction industry especially in developing countries where residential and non-residential construction activities are surging rapidly. Rapid urbanization and rising per capita income are fueling infrastructure development and real estate sectors in these markets. Stringent government regulations mandating energy efficiency in buildings and growing environmental awareness are further augmenting the demand for mineral wool as it is an eco-friendly insulation material. However, fluctuations in prices of raw materials required for manufacturing mineral wool including rock, slag, sand, and glass pose a major challenge. Moreover, the availability of substitute insulation materials can also restrain the market expansion. On the positive side, rising renovations and refurbishments of existing buildings in developed nations present significant opportunities for industry players. Furthermore, increasing spending on infrastructure projects and renovation of existing buildings in developed nations has also contributed to the rising consumption of mineral wool products. However, volatility in prices of raw materials may hamper the industry growth to some extent over the coming years.
Key features of the study:
- This report provides an in-depth analysis of the global mineral wool market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global mineral wool market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Byucksan, Great Lakes Textiles, Saint Gobain, mJohns Manville, Knauf Insulation, National Industrial Co., NTN OOD, Owens Corning, PGF Insulation, Rockwool International AS, Kingspan Group, and Rosewool Insulation Refractory Co. Ltd
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global mineral wool market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global mineral wool market
Market Segmentation
Market Segmentation
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